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2024-01-22 17:32 sec.gov/Archives/edgar/data/1836875/000121390021026738/ea141039ex99-1_nuvveholding.htm EX - 99.1 5 ea141039ex99-1_nuvveholding.htm PRESS RELEASE ANNOUNCING QUARTERLY RESULTS Exhibit 99.1 Nuvve Reports First Quarter 2021 Preliminary Financial Results Investor Conference Call to be Held Today at 9:00 AM Eastern Time SAN DIEGO , May 17 , 2021 / PRNewswire / Nuvve Holding Corp. ( " Nuvve " ) ( Nasdaq : NVVE ) , a global technology leader accelerating the electrification of transportation through its proprietary vehicle - to - grid ( V2G ) platform , today reported preliminary financial results for the first quarter ended March 31 , 2021 . NUVVE First Quarter Highlights and Recent Developments • ● Completed business combination with Newborn Acquisition Corp. , effective March 19 , 2021 , and began trading on the Nasdaq Stock Market on March 23 , 2021 In a separate press release issued today , announced agreement to form joint venture with Stonepeak Infrastructure Partners ( Stonepeak ) which will finance a V2G turnkey solution for fleet customers that will leverage our new V2G hub and transportation as a service ( TaaS ) offering Initiated launch of new V2G hub and TaaS offering , which allows fleets to electrify transportation through a monthly fee that covers leasing electric vehicles , V2G charging infrastructure , energy costs , vehicle storage and vehicle maintenance ● North America's first V2G production electric school bus using a DC fast charger integrated with Nuvve's proprietary technology was deployed through a partnership between Nuvve and Blue Bird Corporation • Appointed Tim Hennessey as Chief Revenue Officer and Jesse Bryson as Vice President of Utility Recruitment and Special Purpose Vehicle Deployments . Additionally , the Company appointed Steve Moran as Chief Legal Officer , bringing to Nuvve his decades of public company General Counsel experience in telematics , IOT , and mobility segments focusing on patent and intellectual property protection • Cash and cash equivalents of $ 62 million , as of March 31 , 2021 Management Discussion Gregory Poilasne , chairman and chief executive officer of Nuvve , said , " Bringing Nuvve to the public market has been an exciting journey . Over the last several months , we've achieved a number of important milestones and made significant progress in advancing adoption of our proprietary V2G technology . This was demonstrated by the delivery of the first production V2G - capable school bus by Blue Bird in March as we furthered our mission to make the electrification of vehicles , including school buses , more affordable . We operate at the center of the V2G ecosystem and are excited by the opportunities ahead to partner with OEMs , hardware providers and fleet operators to streamline the adoption of electric vehicles . " https://www.sec.gov/Archives/edgar/data/1836875/000121390021026738/ea141039ex99-1_nuvveholding.htm 1/9 19